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Innovation is capturing a lot more than the imagination of IT, as a new global report reveals that "innovation centers" are rapidly replacing traditional research and development labs as the place where strategic initiatives are hatched.

According to new research from Capgemini Consulting and Altimeter, 38 percent of leading organizations they surveyed have established innovation centers in a global tech hub. Silicon Valley has quickly emerged as the mecca for these innovation centers, with 61 percent of U.S. companies polled saying they have established one or more innovation centers in the Valley.

Image: Brian Solis | Source: LinkedIn